Returning From Parental Leave Can Be Stressful. How Some Employers Aim to Fix That.
Companies increasingly are creating formal ‘reboarding’ programs to help new parents transition back to work more easily
Companies increasingly are creating formal ‘reboarding’ programs to help new parents transition back to work more easily
Sarah Tucker-Ray, a partner in McKinsey’s Washington, D.C., office, felt a lot of trepidation when she took a six-month parental leave in 2022.
“There is fear about, ‘Am I going to get written out of the story?’ ” says the 36-year-old Tucker-Ray, whose daughter, Viviana, was born in August 2022. “Is someone going to step in for me and take over? How will I come back?”
She addressed those fears in a reintegration plan that she drafted before going on leave. It included instructions for those who would be covering her workload while she was out, and it laid out what she wanted her job to look like when she returned. For example, Tucker-Ray didn’t want her role to change significantly, but she asked to not be given any internal projects—those focused on McKinsey’s own operations versus those of outside clients—during her first six months back. She also thought about small stuff, such as writing down all of her passwords, and she connected with other working mothers at the company who served as peer counselors before she went on leave.
“They told me that the goal for week one is to get dressed, have breakfast with my baby, get into a suit without getting spilled on and get out the door,” she says. “It sounds so basic but I hadn’t had to do that yet.”
The days, weeks, and months after a new parent returns to work after leave can be a critical and challenging time for an employee. Many experience anxiety about how they are going to manage work and parenting, and some end up feeling like a failure at both.
To address that, some organisations have launched formal “reboarding” programs that structure those first months back after leave so they aren’t overwhelming for new parents, while also providing them with emotional support. McKinsey tested such a program in Europe and then expanded it globally
Many see it as a business imperative. Organisations are making substantial investments in paid maternity and paternity leave—in 2023, 40% of organisations in a Society for Human Resource Management survey offered paid maternity leave and 32% offered paid paternity leave—and they want to ensure new parents return to work and are productive and content when they do.

A successful reboarding program requires planning, and it and starts long before an employee goes on leave, consultants and HR leaders say. It begins with mapping out a comprehensive work-coverage plan, including if and under what circumstances the employee wants to be contacted about work while out on leave. The plan also should create clear expectations about what the return-to-work will look like, including the employee’s job description post-leave and even an explanation of what that first daunting day back might entail.
Many reboarding programs also connect new moms with experienced working parents or colleagues who have recently returned from parental leaves, as well as a coach (often an outside consultant) who can help set priorities and guidance on best practices.
When Maria del Mar Martinez became head of McKinsey’s diversity, equity and inclusion efforts in Europe in 2018, she learned that working moms left the management-consulting firm at nearly double the rate of their childless female peers with similar tenure. In exit interviews, women shared common grievances, including the challenge of balancing parenthood with a demanding job, a lack of support from their managers and few role models.
She heard similar sentiments in Asia and the U.S.
“That was a business problem,” says del Mar Martinez, now the global head of DEI at McKinsey. “I don’t want to lose those amazing women coming up the pipeline.”
To combat attrition, del Mar Martinez created a reboarding pilot program in Europe that included coaching employees before, during and after a parental leave. (Men are eligible to take part in the program if they have taken 12 weeks or more of leave.)
Built into the plan was a guarantee that new parents would have “meaningful work” upon their return, with the option of slowing down if that’s what they wanted, says del Mar Martinez. One issue, she and others say, is that managers often incorrectly assume that new mothers want lighter workloads or don’t want to travel, which is why it’s important for employees to spell out their preferences in a reboarding plan.
The McKinsey pilot required managers to confirm they understood their employee’s reintegration plan and to calibrate goals in performance reviews to ensure the person taking leave wouldn’t be penalised.
It worked. McKinsey closed the European attrition gap in 18 months, del Mar Martinez says, and later expanded the program globally.
Other companies are increasing the support they offer to new parents, too, including Wall Street’s Morgan Stanley, which in 2019 appointed Allyson Bronner head of family advocacy at the company’s institutional division, a full-time position that focuses on supporting employees before, during and after parental leaves.
Bronner says one of the best ways to ensure a successful return experience for new parents is to include managers in the process.
To that end, she meets with an expecting employee’s manager between the 25th and 30th week of pregnancy to preview what the employee’s return-to-work will look like and discuss best practices for easing the transition.
“It’s important to set the scene and give them tools to manage their employees,” she says.
She says her next meeting with the manager occurs about a month before the employee is due back to discuss how the first month should be structured. She suggests the manager call the new parent two to three weeks ahead to preview what the first few days back will look like—namely, checking email and showing colleagues baby pictures.
The support continues throughout the first several months, with managers having weekly check-ins with the employee for the first six weeks and then monthly check-ins after that. Bronner encourages managers to ask new parents how they are doing and how their child care is going to determine whether they would benefit from more support or advice in that area.
Since Morgan Stanley created the family advocacy role, “it feels like there has been a culture shift,” Bronner says. “It’s hard to quantify in numbers, but culturally it feels like we’re moving in a more positive direction.”
A culture shift is also under way at chip-equipment maker ASML, which recently expanded the paid parental leave it offers and in May joined forces with employee-benefits firm Parentaly to create a support system for new parents.
ASML is in a male-dominated industry, says Karen Reinhardt, the firm’s chief human-resource officer in the U.S., so retaining women is critical to having a diverse workforce.
As of December, 82 employees had registered for the reboarding program, “more people than we expected,” Reinhardt says.
Among them is Meredith Polm Sheain of San Diego, a knowledge-management developer who went out on maternity leave in late August. In her reboarding plan, she made clear that she wanted to be notified while on leave about any bumps in a recently launched product. She also laid out her priorities for the first two months of her return.
“I felt so much better about the concept of returning to work once I gave my team this plan,” says Polm Sheain, who returned to work on Dec. 22. “I left them and myself in the best position I could.”
Reboarding isn’t the only new benefit companies are offering to make life easier for new parents.
McKinsey’s Tucker-Ray was asked to attend a partner conference in Atlanta about six weeks after returning from maternity leave. The firm covered the cost of her daughter and caregiver (her husband) to join her on the trip since she was still breast-feeding.
“I would have been torn about going away for nearly a week for an internal event but it became a nonevent,” she says. “It got rid of the barrier to feeling you can’t participate fully in parenting and be a leader.”
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Shares in Elon Musk’s rocket maker are set to begin trading at midday Friday.
Elon Musk’s SpaceX is set to make its stock-market debut Friday in the largest IPO ever—and perhaps the most closely watched. The company sold an outsized portion of the offering to individuals. Its performance on Friday will be a crucial gauge of investor appetite for mega-offerings from OpenAI and Anthropic expected later this year.
The rocket maker, which derives most of its revenue from its satellite internet unit and has a nascent artificial-intelligence business, will trade under the ticker “SPCX.” It sold 555.6 million shares at $135 each, raising about $75 billion in a deal that valued the company at roughly $1.77 trillion.
SpaceX executives are set to ring the Nasdaq’s opening bell in New York, but shares in buzzy initial public offerings don’t tend to start trading until later in the day.
Bankers leading an IPO typically want to match buyers and sellers for about 10% of the shares sold before opening trading to lessen volatility. For SpaceX, that would be about 55 million shares, or roughly $7.5 billion worth.
Because pre-IPO investors are restricted from selling shares for a while, it can take time to find willing sellers among those who bought shares in a high-demand IPO.
Shares of Alibaba , the largest U.S. IPO until SpaceX, opened for trading a little before noon in its 2014 offering. Last year, one of the highest-profile offerings was that of software maker Figma , whose shares started trading just before 2 p.m.
It is possible that SpaceX’s bankers will decide to start trading without matching the typical portion of orders to ensure the shares have several hours of trading on their first day, people familiar with the matter say.
Bankers and traders expect SpaceX’s share price could be volatile in initial trading, thanks in part to the large portion of its shares expected to be held by individual investors. Some who anticipate individuals will rush into the shares worry they could just as easily get spooked and rush out.
Any sharp movement in stock price could trigger so-called circuit breakers that could pause trading. For most newly listed companies, a 10% swing in either direction prompts a five-minute pause. Companies that had their shares halted include Figma and Cerebras Systems , the chip company whose shares soared in its May debut.
These forced timeouts applied to single stocks came after the so-called flash crash in 2010, when the Dow Jones Industrial Average fell 700 points in eight minutes before recouping much of the loss.
If the stock starts trading erratically, bankers have a secret weapon to attempt to calm things down.
Underwriters typically sell more shares to investors than an IPO’s total offer size, colloquially called the green shoe. In SpaceX’s case, they sold about 15% more shares than the stated offering size.
Because this means they technically allocated more than the offering amount, the so-called stabilisation agent, in this case, Morgan Stanley , needs to buy back the excess number of shares to deliver them. If the stock starts to fall, the bank will buy the shares in the open market, which helps buoy the stock price. If the stock isn’t faltering, the stabilisation agent can buy the additional shares they need to deliver to investors directly from the company.
The term “green shoe” comes from the first company to employ a version of this method years ago, a shoemaker that was a predecessor to Stride Rite. When Meta Platforms , then known as Facebook, went public in 2012, its shares started dropping and its bankers stepped in to buy more shares.
Like all things Musk, SpaceX’s IPO bucked the norms. Instead of approaching prospective investors with a possible price range for shares ahead of the IPO and incorporating their feedback, the company set an exact share price from the beginning: $135.
The idea was to limit drama for what is already the biggest IPO of all time. It did, however, remove what many see as an important step along the way: price discovery. The success of this approach will partly be judged by how SpaceX’s shares trade Friday. If the stock surges, critics will say SpaceX left money on the table by not pricing shares higher. If the stock falls or trades flat, there will likely be critiques that SpaceX and its advisers overestimated demand.
The sheer size of SpaceX’s IPO will test the trading infrastructure at Nasdaq and could have ripple effects in the broader market.
Nasdaq has practiced with mock openings to make sure its trading platform is prepared. When Facebook went public, some investors who tried to change or cancel orders ahead of trading didn’t get confirmations because of a technology malfunction. The confusion contributed to Facebook shares dropping on the first day of trading. They didn’t return back above their IPO price for more than a year.
Meanwhile, some market watchers expect added activity Friday in stocks that individual investors might sell to buy SpaceX shares, such as those of technology companies and Musk’s electric-car maker Tesla . Such sales already appeared to be under way earlier in the week, when individual investors dumped single-stock holdings on a net basis for two days in a row, according to Vanda Research. (To be sure, those sales came on days that were poor showings for tech stocks broadly.)
It will take several days for SpaceX shares to show up in any major index funds , so the offering’s wider impact on the market could play out over the next several weeks or longer.
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